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Spain

Implementing legislation

Law 12/1992 of 27.5.1992

Proper notice

1 month if less than 1 year
2 months if more than or equal to 1 year and less than 2 years
3 months if more than or equal to 2 years and less than 3 years
4 months if more than or equal to 3 years and less than 4 years
5 months if more than or equal to 4 years and less than 5 years
6 months if more than or equal to 5 years


Indemnity or compensation or both

Indemnity for costs and expenses not amortised and incurred due to instructions from principal

Calculation of indemnity/compensation

Capped at a maximum of the average annual commission over last 5 years or, if less than 5 years, over duration of agency

Pre-termination commission

Yes

Post-termination commission

Yes

Back commission

Yes

Other entitlements

Right to inspect principal’s books

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